2906

LAWS OF MARYLAND

Ch. 775

required of him may tend to incriminate him or subject him
to a penalty or forfeiture. However, an individual may not
be prosecuted or subjected to any penalty or forfeiture for
or on account of any [transaction, matter, or thing]
SPECIFIC SUBJECT concerning which he is compelled, after
claiming his privilege against self-incrimination AS TO THAT
SPECIFIC SUBJECT, to testify or produce evidence,
documentary or otherwise, except that the individual
testifying is not exempt from prosecution and punishment for
perjury or contempt committed in testifying.

11-702.

Whenever it appears to the Commissioner that any person
has engaged or is about to engage in any act or practice
constituting a violation of any provision of this title or
any rule or order under this title, he may in his discretion
bring an action in the APPROPRIATE circuit court [of the
county in which the person resides or transacts business] to
enjoin the acts or practices and to enforce compliance with
this title or any rule or order under this title. On proper
showing a permanent or temporary injunction or restraining
order shall be granted and a receiver or conservator may be
appointed for the defendant or the defendant's assets. The
court may not require the Commissioner to post a bond.

11-705.

(a)(1) Any person who willfully violates any provision
of this title, except §§ 11-303 or 11-904(1) of this title
or who willfully violates any rule or order under this
title, or who willfully violates §§ 11-303 or 11-904(1) of
this title knowing the statement made to be false or
misleading in any material respect, IS GUILTY OF A FELONY
AND on conviction is subject to a fine not exceeding $5,000
or imprisonment not exceeding three years or both;

(D) IN ANY PROCEEDING UNDER THIS TITLE, SCIENTER NEED
NOT BE ALLEGED AND PROVED IN PROSECUTIONS INVOLVING THE SALE
OF UNREGISTERED SECURITIES OR INVOLVING THE FAILURE TO
REGISTER AS A BROKER DEALER OR AGENT UNDER THIS TITLE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 19, 1981.

CHAPTER 776
(House Bill 1310)
AN ACT concerning